Construction Accounting and Tax Services
Credit is tight. Outstanding accounts are increasing, while future projects are not. Cash flow is a major concern in the construction industry today.
Barnes Dennig can help.
From our understanding of performance and financial metrics to the best use of tax credits and incentives to our proprietary research into compensation and benefits strategies, we provide our clients with the guidance to strengthen their bottom line and make the most of their resources.
We have a client service team dedicated to the needs and nuances of the construction industry, and we have invested in a number of programs that enhance our knowledge of the unique issues facing contractors today. This customized training takes our accountants away from the numbers and into the core operations of the construction industry, so they can not only provide contractors with accurate numbers but also explain what those numbers mean in the field.
To provide an exceptional level of service to our construction clients, we have invested in a number of programs that provide additional value. Among these items are:
Ten members of the Construction Client Service Team have completed a customized training program to earn the designation of Construction Industry Technician (CIT).
For many years, the IRS and contractors have waged an undeclared battle over expensing vs. capitalizing various expenditures. New temporary regulations issued by the IRS and the Treasury Department have changed the application of a "unit of property," making it more difficult for contractors to expense some costs related to personal and real property. Read more
"Going green" has become the mantra for many contractors and building owners in the 21st Century. The challenge is to practice environmental stewardship in a way that is also conducive to a healthy bottom line. Fortunately, these two goals are not mutually exclusive. Contractors and building owners can implement green energy management techniques that help protect the environment, increase energy efficiency and reduce maintenance and operational costs. Read more
Difficult times make attention to the basics more important than ever, which means now is a good time for contractors and subcontractors to take a fresh look at their budgeting process. There are six basic steps a construction company should follow as part of its standard budget discipline. Read more
General contractors are more consistently and methodically prequalifying their subcontractors and monitoring the performance and financial strength of those subs. While prequalification certainly benefits the GC, it also benefits the subcontractor by keeping the sub focused on jobs with which it has the greatest chance of success and making it easier for vendors and suppliers to do business with them. Read more
While strategic planning might seem like a luxury a small business owner can’t afford, the time spent assessing the environment and your organization’s strengths may actually be the highest-yielding investment you can make. For contractors who take the time to evaluate where they want to go and how to get there, the rewards are many – not the least of which is the hope it can provide contractors and their employees by giving them a sense of control over their destiny. Read more
“In a market driven by speed and volume, our goal is to help our construction clients work smarter, not harder. I think any successful contractor will tell you what the keys to success are and focus on efficiencies.”